South African-born billionaire Patrick Soon-Shiong’s net worth sheds $290 million in six days
His biotech company’s share price has dropped by more than 15 percent in the past six days.
African Billionaires
Zambian gov’t invites Africa’s richest man Aliko Dangote to invest in agriculture
Zambian Commerce and Industry Minister Chipoka Mulenga made the declaration over the weekend.
Led by Egyptian banker Karim Awad, EFG Hermes to pay Egypt’s tax office $20.5 million in H1 2022
The figure is 72-percent higher than during the same period last year.
Egyptian mogul Safwan Thabet’s Juhayna says price increases caused revenue to exceed $270 million in H1 2022
Thabet founded the Egypt-based food products manufacturer nearly 38 years ago.
Billionaire Robert Smith’s Vista Equity partners with NACD, SHRM to increase board diversity
Vista is a renowned global investment firm run by Smith, America’s richest Black man.
Ugandan tycoon Emmanuel Katongole’s CiplaQCIL to pay shareholders first dividend in four years
Katongole owns 2.79 percent of the company, or 101,933,042 ordinary shares.
Led by South African mogul Koos Bekker, Prosus N.V. acquires stake in Brazilian food delivery platform
Prosus N.V. was founded in 1997.
Nigerian banker Tony Elumelu commissions ultra-modern UBA Experience Center in Abuja
The center’s launch comes nearly one month after Elumelu opened a new UBA branch in Dubai.
South African executive Nombasa Tsengwa says investment in green minerals ‘urgent’
Tsengwa became the group CEO of Exxaro Resources in March 2021.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports over $550 million in property sales
Mansour owns a sizable 5.22-percent stake in the real estate firm.
Kenya-based founder Stefano Carcoforo’s iProcure secures $10.2 million from investors
Carcoforo co-founded iProcure in 2013.
American-Nigerian telecom tycoon Sam Darwish’s IHS Holding suffers $162.4 million in losses in H1 2022
Darwish said the group had a solid quarter despite today’s volatile macroeconomic environment.
Nigerian banking tycoon Tony Elumelu loses $10.4 million in 27 weeks from stake in United Bank for Africa
Elumelu owns a sizeable 6.96-percent stake in UBA, one of Nigeria’s leading banking groups.
Egyptian tycoon Ahmed El Sewedy’s electric firm signs deal to operate high-speed network projects in Egypt
The firm will collaborate with Germany’s Deutsche Bahn International Operation on the project.
African-American comedy mogul Kevin Hart to launch plant-based restaurant in LA next week
The restaurant chain will open in New York in a bid to uproot the fast-food industry.
South Africa approves acquisition of Bokoni Mine by billionaire Patrice Motsepe’s ARM
The mining company announced that the multimillion-dollar transaction will go into effect on Sept. 1.